First Quarter Performance of Bitcoin Worse Than Argentine Peso
You’d have to hunt pretty hard to find a worse investment over the last three months than bitcoin. The e-coin is down 38% against the US dollar since Dec. 31, making it one of the worst assets that we keep an eye., says Quartz.
Many people have lost big in Bitcoin, but it is only going to get worse. Current Bitcoin price $479.25.
That is one side of the scorecard. The other side has made millionaires out of many libertarians, and pissed of the state, while giving it some of the best monetary competition it has had in 100 years...but yeah what a terrible experiment. Shame on you Bitcoin people.
That's b/c its transparent for all to see.....unlike the faux heroes of finance,,,,
CalPERS Gives PEU Information to Oxford but Not to Naked Capitalism
As for the end of 2008, that's a dicey time in the financial world. Carlyle made over $680 million in capital calls to CalPERS during the financial crisis.
Eight Apollo funds called a total of $1.71 billion from CalPERS last year. Washington, D.C.-based Carlyle Group, the world’s second-largest private-equity firm, made $681.3 million of capital calls on the pension fund in 2008. Fort Worth, Texas- based TPG, which also has piled into distressed debt, drew down $272 million, and Blackstone Group LP in New York, manager of the world’s largest buyout fund, called $143 million.
How might this information be represented in the Oxford numbers?
Naked Capitalism closed with:
CalPERS seems to see indulging the PE industry’s mania for secrecy as more important than meeting its obligations under the law and doing what is in the best interest of its beneficiaries.
Bingo! Welcome to our PEU world, infected by the greed and leverage boys and their need for stories to be told their way. That's the function of the PEU research crew, foreign and domestic. CalPERS equals PEUbiquity in a world where politicians, Red and Blue, love PEU.
You can make any price chart look bad by selectively choosing the time period for any cyclical investment/asset. Simply stretch that graph out 12 months and you have a completely different picture: Bitcoin up 400%. By comparison, look at the 12 month gold chart...
I think many of the Bitcoin "fanboys" have taken the longer term view. Personally, I'm not concerned with these short-term corrections because I feel Bitcoin has a potential long-term value that is multiples of its current price.
You'd have to search hard to find an investment worse than gold over the last 3 years. Yet Wenzel has been pumping gold over that whole time, taking suckers down with him. Had you bought bitcoin 3 years ago instead of listening to Wenzel, you'd be a millionaire. He likes to arbitrarily pick his time periods to suit his broken arguments, like most scammers.
For the record, I was bearish on gold last year in the EPJ Daily Alert and only turned bullish on gold at the very end of the year as gold started its very strong bull move. But thanks for slinging BS, which gives me the opportunity to tout me accurate calls on gold.
"tout me"? Perhaps you should be touting your broken english, too. There is no public record of your calls on gold, or bitcoin, which is lucky for you because it would be obvious what a scam artist you are if they had been put on the public record. One of the benefits of bitcoin is the public record - the blockchain - which is open and transparent for all to see. Unlike your so-called "predictions".
You Wenzel haters are very strange dudes. I have been a subscriber to the EPJ Daily Alert for close to two years and can verify that Wenzel turned bearish on gold right from the start of 2013 and then turned bullish in December of 2013. Here is a direct quote from his December 30 ALERT:
"This means the conditions to buy gold now are ideal. At some point gold will move dramatically to the upside. The move could start right at the beginning of the year. "
Apparently Wenzel knows the future now. Doesn't sound very Austrian Economist-y to me.
ReplyDeleteThat is one side of the scorecard. The other side has made millionaires out of many libertarians, and pissed of the state, while giving it some of the best monetary competition it has had in 100 years...but yeah what a terrible experiment. Shame on you Bitcoin people.
ReplyDeleteThat's b/c its transparent for all to see.....unlike the faux heroes of finance,,,,
ReplyDeleteCalPERS Gives PEU Information to Oxford but Not to Naked Capitalism
As for the end of 2008, that's a dicey time in the financial world. Carlyle made over $680 million in capital calls to CalPERS during the financial crisis.
Eight Apollo funds called a total of $1.71 billion from CalPERS last year. Washington, D.C.-based Carlyle Group, the world’s second-largest private-equity firm, made $681.3 million of capital calls on the pension fund in 2008. Fort Worth, Texas- based TPG, which also has piled into distressed debt, drew down $272 million, and Blackstone Group LP in New York, manager of the world’s largest buyout fund, called $143 million.
How might this information be represented in the Oxford numbers?
Naked Capitalism closed with:
CalPERS seems to see indulging the PE industry’s mania for secrecy as more important than meeting its obligations under the law and doing what is in the best interest of its beneficiaries.
Bingo! Welcome to our PEU world, infected by the greed and leverage boys and their need for stories to be told their way. That's the function of the PEU research crew, foreign and domestic. CalPERS equals PEUbiquity in a world where politicians, Red and Blue, love PEU.
http://peureport.blogspot.com/2014/04/calpers-gives-peu-information-to-oxford.html
You can make any price chart look bad by selectively choosing the time period for any cyclical investment/asset. Simply stretch that graph out 12 months and you have a completely different picture: Bitcoin up 400%. By comparison, look at the 12 month gold chart...
ReplyDeleteYeah, but I was bearish on gold last year. Have any Bitcoin fanboys been bearish on Bitcoin, since the start of the year?
Delete@ Robert Wenzel April 2, 2014 at 1:05 PM
DeleteI think many of the Bitcoin "fanboys" have taken the longer term view. Personally, I'm not concerned with these short-term corrections because I feel Bitcoin has a potential long-term value that is multiples of its current price.
Now Wenzel's arument is, "Yeah, but they are bad traders, so there! Ha!"
DeleteNo, they are bad traders IN ADDITION to their weaknesses in monetary analysis.
DeleteYou'd have to search hard to find an investment worse than gold over the last 3 years. Yet Wenzel has been pumping gold over that whole time, taking suckers down with him. Had you bought bitcoin 3 years ago instead of listening to Wenzel, you'd be a millionaire. He likes to arbitrarily pick his time periods to suit his broken arguments, like most scammers.
ReplyDeleteFor the record, I was bearish on gold last year in the EPJ Daily Alert and only turned bullish on gold at the very end of the year as gold started its very strong bull move. But thanks for slinging BS, which gives me the opportunity to tout me accurate calls on gold.
Delete"tout me"? Perhaps you should be touting your broken english, too. There is no public record of your calls on gold, or bitcoin, which is lucky for you because it would be obvious what a scam artist you are if they had been put on the public record. One of the benefits of bitcoin is the public record - the blockchain - which is open and transparent for all to see. Unlike your so-called "predictions".
DeleteYou Wenzel haters are very strange dudes. I have been a subscriber to the EPJ Daily Alert for close to two years and can verify that Wenzel turned bearish on gold right from the start of 2013 and then turned bullish in December of 2013. Here is a direct quote from his December 30 ALERT:
Delete"This means the conditions to buy gold now are ideal. At some point gold will move dramatically to the upside. The move could start right at the beginning of the year. "